Which type of property includes items like vehicles and equipment?

The selection of tangible personal property as the correct answer is rooted in the definition of the term itself. Tangible personal property refers to physical items that can be touched and held. Vehicles, machinery, and equipment all fall under this category because they are movable, can be owned by individuals or businesses, and have a physical presence that can be measured and assessed for value.

Real property, on the other hand, involves land and anything permanently attached to it, such as buildings and fixtures. While commercial property is a subtype of real property, focusing specifically on properties used for business purposes, it still does not encompass movable items like vehicles or equipment. Intangible personal property refers to non-physical assets that represent something of value, such as stocks, bonds, or copyrights, which do not include physical objects like vehicles or equipment. Therefore, tangible personal property is the most accurate classification for vehicles and equipment.